s alam group
S Alam says Singapore citizenship is a shield against central bank ‘intimidation’: FT
The letter and Saiful Alam’s threat to pursue international arbitration mark his most serious pushback yet against Bangladesh’s interim government.
Islami Bank to realise Tk 10,000cr by selling S Alam Group’s stake
Islami Bank Bangladesh plans to sell the S Alam Group’s stake in the bank to realise dues of around Tk 10,000 crore from the controversial conglomerate.
BB probe into Union Bank: ‘S Alam staffer’ took Tk 118cr sans approval
A “staffer of S Alam Group” took out Tk 118 crore from Union Bank without any approval or following any banking norms, indicating how the controversial business conglomerate used the bank.
Two S Alam sons dodged Tk 75cr in taxes in 20-21
At least six tax officials, including the then tax commissioner, were involved in extending undue favour to two sons of controversial businessman Mohammed Saiful Alam to legalise undisclosed money worth Tk 500 crore, an investigation by the tax intelligence has found.
S Alam took out 86pc of Global Islami Bank’s loans
S Alam Group and its linked companies account for more than 86 percent of the disbursed loans of Global Islami Bank (GIB), one of the six Shariah-based lenders that were controlled by the Chattogram-based business giant.
S Alam’s tax file shows no foreign income
S Alam Group owner Mohammed Saiful Alam’s 2022-2023 tax file is a puzzle. In that tax year, he declared personal assets worth Tk 2,532 crore, but did not show any personal bank loans from Bangladesh or his foreign income.
Globe Edible Oil Ltd: S Alam’s backdoor takeover attempt
S Alam Group’s takeover of the Islami Bank to drain the healthiest bank of the country had left investors and customers in shock. It did not stop there.
HC wants update of probe into money laundering allegations against S Alam by Sept 29
The High Court today sought to know updated information about the probe into money laundering allegations against S Alam Group. The court asked the Anti-Corruption Commission (ACC) lawyer Shaheen Ahmed to place the information before it on September 29.
Singapore’s Financial Intelligence Unit seeks info on S Alam Group
The overseas assets of S Alam Group, including those in Singapore, came under scrutiny following recent media reports.
State agencies go tough on S Alam Group
In a major development, three state agencies yesterday made a series of moves against the S Alam Group, its chairman Mohammed Saiful Alam, and his family members amid allegations of loan irregularities during the 15-year tenure of the recently ousted Awami League government.
S Alam group, associates: Tk 95,000cr loans taken from 6 banks
S Alam Group and its associate companies took out Tk 95,331 crore between 2017 and June this year from six banks, with 79 percent of the sum coming from Islami Bank.
6 banks with ties to S Alam barred from lending
The Bangladesh Bank restricted six banks linked to S Alam Group from lending activities to prevent their situation from deteriorating further amid allegations of wrongdoing.
S Alam drains Janata branch dry
As much as 90 percent of the loans disbursed by a branch of state-run Janata Bank was for S Alam Group, in yet another instance of how the Chattogram-based business giant exerted its influence on the country’s banking sector.
Social Islami Bank hid Tk 7,924 crore in bad loans
SIBL, in which Chattogram-based S Alam Group holds a majority stake, hid Tk 7,924 crore of its defaulted loans, according to an inspection by the central bank.
Two S Alam firms evaded Tk 3,500 crore in VAT, says NBR
With penalty, they owe government over Tk 7,000cr; S Alam Group director says they didn’t ‘evade even a single taka in VAT’
Govt, S Alam to team up to build second oil refinery
The state-owned Eastern Refinery (ERL) is likely to build its long-planned second unit in partnership with Chattogram-based conglomerate S Alam Group after previous attempts to expand the country’s oil refining capacity fell through because of a lack of financing.
SC voids HC suo moto rule
The Appellate Division of the Supreme Court today discharged the High Court Division’s suo moto rule that had ordered an investigation into S Alam Group’s wealth abroad
SC orders status quo till Jan 8
The Supreme Court chamber judge today put on hold until next year the inquiry into S Alam Group owner Mohammed Saiful Alam’s "assets abroad".
Probe into offshore business: S Alam Group seeks stay on HC order
A petition has been filed with the Appellate Division of the Supreme Court seeking stay on a High Court order that asked the authorities concerned to probe allegations against the owner of S Alam Group of amassing huge amounts of properties abroad without Bangladesh Bank's permission